The Renton Washington housing market stayed firmly in seller’s territory throughout April 2025, though not without a few mixed signals. With inventory nearly doubling from the same time last year and pending sales on the rise, buyers had more options to choose from—yet sellers continued to hold most of the leverage.
Inventory Nearly Doubled Year Over Year
In April, the number of homes for sale rose sharply to 153, up 98.7% from April 2024 and up 31.9% from March 2025. This jump in inventory gives buyers a bit more breathing room, especially compared to the tight supply seen over the past year. However, even with more homes available, inventory remains low by historical standards, with just 1.9 months of inventory based on closed sales—a clear indicator that we’re still in a seller’s market (anything below 3 months typically is).
Homes Are Taking Less Time to Sell
Buyers may have more choices, but they’re still moving quickly. The average days on market (DOM) dropped to just 16 days in April—down from 20 in March and 17 in April of last year. This quick market pace suggests that well-priced homes in desirable locations are still drawing strong interest and offers.
Pending Sales Point to Strong Demand
There were 113 pending sales in April, up 24.2% month-over-month and up 4.6% year-over-year. This is a good sign for future closed sales and indicates that buyer activity picked up in April—perhaps in anticipation of more listings and continued low competition.
Closed Sales Dipped, But It’s Not a Sign of Weakness
While closed sales fell to 82, down from 103 in March and from 90 in April of last year, this drop is more a reflection of March’s lower pending activity than a sudden slowdown in buyer demand. The spring surge in pended properties suggests closed sales will likely rebound in the coming months.
Price Trends: Mostly Steady with Slight Fluctuations
Pricing data showed some stabilization after significant fluctuations in recent months:
- The average sold price was $965,000, down 4.2% from March but still up 2% from April 2024.
- The median sold price came in at $857,000, nearly unchanged from March and just slightly lower than the $876,000 median from last year.
- The average price per square foot was $436, which is down a modest 1.6% from March but still 6.9% higherthan last year’s $408.
These slight dips from March likely reflect changes in the mix of homes being sold rather than a true downward trend in values. Based on the 6-month trend, the median price is still considered to be appreciating.
Sellers Still Getting Their Price
Sellers continued to receive strong offers. On average, homes sold for 102% of their original list price, meaning multiple-offer situations are still common. That’s unchanged from March and only slightly below the 103% ratio from April of last year.
What This Means for Buyers and Sellers
For Sellers: Even with more competition, homes are selling fast and for strong prices. Now is a great time to list—especially with summer around the corner, when buyer demand typically increases. Pricing your home right and making it market-ready will help you attract top dollar quickly.
For Buyers: Inventory is finally climbing, offering more options than we’ve seen in over a year. But competition is still stiff for turnkey homes, so be prepared to act fast and make strong offers. The market remains active, and waiting too long could mean missing out.
Final Thoughts
April 2025 proved that Renton is still a highly competitive market for buyers, even with more listings on the table. The combination of strong buyer demand, fast market pace, and steady price appreciation keeps this city firmly in seller-friendly territory. If you’re planning to make a move this year—whether buying or selling—this is a great time to prepare, strategize, and take action before summer heats up.
